State Lays Claim on Unused Gift Cards

By December 23, 2007General

Merry Christmas!

PORTLAND, Maine – Remember those $50 gift cards that Aunt Irene and Uncle Harry gave you two Christmases ago? The ones you slipped into your sock drawer and forgot?

If the cards were purchased in Maine, the state is claiming $60 of their $100 combined value under Maine’s unclaimed property law.

Other states have used similar laws to tap the value of unused gift cards issued by in-state companies, but state Treasurer David Lemoine believes Maine is the first to seriously pursue national retailers. Keeping tabs on the cards shouldn’t be difficult because retailers have sophisticated tracking systems to determine where they were sold and when they’re redeemed, he said.

Well, as long as it’s for a good purpose. It’s not like it’s somebody’s property…

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